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Apple “Investing Like Crazy” in Greater China

Apple “Investing Like Crazy” in Greater China

Los Angeles, CA – Tim Cook, president of global communications giant Apple, is in has said that the California-based company is planning to open 25 new Apple stores in the country over the next two years.

“We’re investing like crazy in the market and when I look at China, I see an enormous market where there are more people graduating into the middle class than any nation on earth in history,” Cook said.

Cook made his comments bout the company’s plans to Sina, a Chinese online media company, during his current tour of the country this week.

Currently, Apple earns about 15 percent of its revenue and operates 15 stores in the country in what it calls its ‘Greater China’ marketing region, which includes mainland China, Hong Kong and Taiwan.

Earlier this week, Cook toured Foxconn Technology Co’s iPhone factory in Zhengzhou and met with China’s Vice Minister Ma Kai to discuss the “protection of users’ information” as well as “strengthening cooperation,” according to the China’s state-run Xinhua News Agency.

Cook also has plans to attend meetings at Beijing’s Tsinghua University as a member of the School of Economics and Management’s advisory council, and meet with Alibaba Chairman, Jack Ma.

Before leaving for China, Cook said that Apple would be “cooperating” with Chinese firms including Baidu Inc. and Alibaba Group Holding Ltd.